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Hot Pursuit
IRB Infra gains as toll collection jumps 19% YoY in November
(10:14, 08 Dec 2023)

Sequentially, the company's gross toll collection decreased 2.39% as against Rs 437.05 crore recorded in October 2023.

The gross toll collection of IRB Infra's wholly-owned subsidiaries in November 2023 was Rs 200.46 crore, up 11.88% year on year (YoY).

The joint ventures entities under IRB Infrastructure Trust reported gross toll collection of Rs 180.94 crore (up 3.14% YoY) for the period under review.

Amitabh Murarka, Dy CEO of IRB Infrastructure, said, ?We have witnessed a continued rise in toll collection, despite Diwali holidays, which briefly slowed down momentum of economic activities across the Nation for almost a week?s time. Overall, it?s promising to see the persistent growth momentum gained in first eight months of FY24. The second half of the year is always better from Toll Collection perspective; accordingly, we expect the growth momentum to continue, especially with Gujarat BOT commencing tolling soon.?

IRB Infrastructure Developers (IRB) is India's first Multinational Infrastructure player in Highways segment. As the largest integrated private toll roads and highways infrastructure developer in India, with this win, IRB group's asset base will swell to over Rs 70,000 crore spread in 11 States across the parent company and two InvITs.

The company reported 12.24% jump in net profit to Rs 95.74 crore on 30.28% increase in total income to Rs 1,874.50 crore in Q2 FY24 over Q2 FY23. Revenue from operations stood at Rs 1,744.99 crore in Q2 FY24, up 29.94% from Rs 1,342.95 crore posted in corresponding quarter last year.

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